12h 53min, jan 1, 1982 y - Deep Reccesion
Description:
The nation endured a deep recession throughout 1982. Effect: Business bankruptcy rose 50 percent since the previous year. Farmers were hit especially hard, as agricultural exports dropped and interest rates rose. Falling oil prices and the Federal Reserve curbed the inflation and stability returned to the economy.Added to timeline:
Date:
12h 53min, jan 1, 1982 y
Now
~ 44 years ago